BATS Exchange Forced To Retract Statement Its President Made On CNBChttp://www.businessinsider.com/bats-forced-to-retract-presidents-statement-from-cnbc-tussle-2014-4/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Sat, 10 Dec 2016 00:22:05 -0500Rob Wilehttp://www.businessinsider.com/c/53404de86bb3f7b52003017ahaywoodmatthewsSat, 05 Apr 2014 14:39:36 -0400http://www.businessinsider.com/c/53404de86bb3f7b52003017a
At this point I think Michael Lewis took a flame thrower to Wall Street.
He carved up those HFT like a Thanksgiving Turkey.http://www.businessinsider.com/c/533f0f48eab8ea2d3252bb99Austrailian Market: Wall St Has Gone Too Far Fri, 04 Apr 2014 16:00:08 -0400http://www.businessinsider.com/c/533f0f48eab8ea2d3252bb99
The Wall St exchanges love HFT, because it pays for their Hampton Mansions.
On second thought BATS should hire Blythe Masters. At least the bi*ch could lie better.
"The more fragmented the market is, the more opportunities there are for HFT who look for differences across that market to exploit"
<a href="http://www.bloomberg.com/news/2014-04-03/australia-model-curbs-speed-as-ceo-says-u-s-too-far-gone.html" target="_blank" rel="nofollow" >http://www.bloomberg.com/news/2014-04-03/australia-model-curbs-speed-as-ceo-says-u-s-too-far-gone.html</a>http://www.businessinsider.com/c/533ee949ecad043b792dbf25TmacFri, 04 Apr 2014 13:18:01 -0400http://www.businessinsider.com/c/533ee949ecad043b792dbf25
.
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Thank God he has no morals.
At least he'll be able to sleep at nighthttp://www.businessinsider.com/c/533ee3c5eab8ea911452bb97iamjamesFri, 04 Apr 2014 12:54:29 -0400http://www.businessinsider.com/c/533ee3c5eab8ea911452bb97
No surprise here. The way O'Brien conducted himself in this interview was utter bush league. He was so blindly and childishly defensive that I did not trust one damn word coming out of his mouth. The market is rigged, period. Only the few and privileged exchanges with privileged information who allow unfair trades and pricing get to scalp everyone else to the tune of billions of dollars.
How is that not rigged?http://www.businessinsider.com/c/533ed03169beddd20c163df4SweetDougFri, 04 Apr 2014 11:30:57 -0400http://www.businessinsider.com/c/533ed03169beddd20c163df4
'
'
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I use this analogy:
It's like poker, and these scumbags are peeking at my hand.
Maybe not today, but I kind of like the idea from the storied wild west, of what happened when you gots caught cheating a poker back then.
Maybe something we should all think about, eh?
•∆•
V-Vhttp://www.businessinsider.com/c/533ecff26bb3f7777ac01cb7mr merdeFri, 04 Apr 2014 11:29:54 -0400http://www.businessinsider.com/c/533ecff26bb3f7777ac01cb7
don't forget the original classic, "Where are the customers yachts?"http://www.businessinsider.com/c/533ec8f3eab8eae72152bba1Aulnay-sousBoisFri, 04 Apr 2014 11:00:03 -0400http://www.businessinsider.com/c/533ec8f3eab8eae72152bba1
I am not sure we were that saintly in the ole' days, between "Liar's Poker"(1989) and "Flash Boys"(2014), I don't see much of a gap to sail a ship through.http://www.businessinsider.com/c/533ec47c6da811b0750e8db8AvattoirFri, 04 Apr 2014 10:41:00 -0400http://www.businessinsider.com/c/533ec47c6da811b0750e8db8
Nah: CNBC will pick up to yell at the president, or FBN will to recite Randian faerie tales.http://www.businessinsider.com/c/533ec396eab8eac51252bba5AvattoirFri, 04 Apr 2014 10:37:10 -0400http://www.businessinsider.com/c/533ec396eab8eac51252bba5
... except I very much doubt any investor who watched that exchange came away with the least confidence that Mr. Bats knew WTF he was talking about and was at all truthful.
This "correction" was FORCED on BATS and Mr. Bats because they're now under investigation by no less than 3 sets of authorities who can cause them even more grief than they're already experiencing: the NY AG, the SEC (belatedly, especially so given Katsuyama went to the SEC to brief them fully months and months back), and now the FBI - whose next stop is US DoJ.
Plus Mr. Bats can expect at least one 'invitation' from Congress, probably the Senate (all the House committees being too dang busy repealing Obamacare and with all their public offers of apologies to polluters and all them other jaaaaahb creators.
Mr. Bats' other lies were either too bombastic or unserious even to get by the paid TV shills, or else he was forced to back down on the spot (for example, his allegation that Lewis was an "investor" in IEX and his constant conflations of Katsuyama with Lewis over the content of and narratives in Lewis' book - which, on reading it, shows that, typical of Lewis' business books, the group who ended up starting IEX form only one of several narrative lines).
The bleed rate at BATS right now must be something to see. It's just a matter of time 'til BATS is forced to sell out.http://www.businessinsider.com/c/533ebf976bb3f7333dc01cbbFocushawk72Fri, 04 Apr 2014 10:20:07 -0400http://www.businessinsider.com/c/533ebf976bb3f7333dc01cbb
The president of a U.S. corporation lying to the public to protect his personal fortune...imagine that? Imagine he'll lose his job soon and run for public office.http://www.businessinsider.com/c/533ebd3fecad04375c2dbf2fJVPFri, 04 Apr 2014 10:10:07 -0400http://www.businessinsider.com/c/533ebd3fecad04375c2dbf2f
And again we have to ask ourselves...will there EVER BE ANY CONSEQUENCES for legally, morally and ethically bad behavior?
MR BATS new that it's easier to ask for forgiveness than ask for permission...its the new normal when you know you will never suffer consequences.
OR more simply stated, the CORRECTION will get a lot less airtime then the LIE when first told.http://www.businessinsider.com/c/533ebceb6da81118540e8dadVal VesaFri, 04 Apr 2014 10:08:43 -0400http://www.businessinsider.com/c/533ebceb6da81118540e8dad
"They key moment came when Katsuyama" should be replaced with "The key moment came when Katsuyama"http://www.businessinsider.com/c/533ebb276bb3f7a430c01cb7below....meFri, 04 Apr 2014 10:01:11 -0400http://www.businessinsider.com/c/533ebb276bb3f7a430c01cb7
Zero hedge started this story 5yrs ago.....5yrs ago......unreal how we are always late to the party...if the market never crashed in 2008 madoff would still be flying around in a g5 collecting minimum of 1milllion to join his own private social security systemhttp://www.businessinsider.com/c/533eb75d6da811ac3d0e8dadCheck yo self b4 u wreck yo selfFri, 04 Apr 2014 09:45:01 -0400http://www.businessinsider.com/c/533eb75d6da811ac3d0e8dad
Seriously, do you guys have an editor at BI? This dude writes at a third grade level.
"They key moment..."
"That's process by which..."
"High-frequency that have direct feeds..."
Surely there is some unemployed literate that can do a better job here.http://www.businessinsider.com/c/533eb600ecad0402462dbf24Beltway GregFri, 04 Apr 2014 09:39:12 -0400http://www.businessinsider.com/c/533eb600ecad0402462dbf24
How is that IPO going BATS? The fact that he'll go on television and admit to being the CEO of BATS is stark testimony to either his ignorance or his bravery. I can't really decide?http://www.businessinsider.com/c/533eb599ecad04e2422dbf2cjoe hefferonFri, 04 Apr 2014 09:37:29 -0400http://www.businessinsider.com/c/533eb599ecad04e2422dbf2c
Thanks for posting this. The fact that these HFT guys have to lie just adds to the nefarious nature of their enterprisehttp://www.businessinsider.com/c/533eb5026da81127350e8dadnone123Fri, 04 Apr 2014 09:34:58 -0400http://www.businessinsider.com/c/533eb5026da81127350e8dad
It was glaringly obvious in the interview that the guy from BATS was a total fraud.
No one goes on the attack that recklessly unless they are defending from a weak position. All his monkey performance did was confirm that his company relies on this sort of shady activity and they do not offer any true value.
He's now a total joke for the rest of his life.http://www.businessinsider.com/c/533ead7969beddb54b163dfaNCSouthFri, 04 Apr 2014 09:02:49 -0400http://www.businessinsider.com/c/533ead7969beddb54b163dfa
I think its sad as American's used to be trustworthy but that ship has sailed. Totally agree here.http://www.businessinsider.com/c/533eaca8eab8ea233152bb9cDebra 7778Fri, 04 Apr 2014 08:59:20 -0400http://www.businessinsider.com/c/533eaca8eab8ea233152bb9c
When you have to choose between the word of a Canadian trader and a U.S. trader, trust the Canadian's.